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First Travel Portal Launched
Techtree News Staff, Jan 12, 2006 1624 hrs ISTThe country's first online and centralized travel services company, Yatra Online (www.yatra.in), has been founded.
The country's first online and centralized travel services company, Yatra Online (www.yatra.in), has been founded. Yatra has received initial funding from Reliance, Norwest Venture Partners (NVP) and Television 18 Group (TV18).
The founders of Yatra, Dhruv Shringi and Manish Amin, are non-resident Indians who have returned to launch the first online and centralized travel services company of its kind.
The country is currently witnessing a tremendous boom in both business and family/leisure travel. In 2006, the travel market is estimated to reach approximately $40 billion, and plans to hit close to $50 billion by 2009. Though the travel market is flourishing, the needs of travelers here are under-served due to the extremely fragmented travel industry.
To meet this rapidly growing need, Yatra has been launched. Yatra will provide travel-related information, pricing, availability and reservations for airlines, railway, buses, hotels and car rentals across 5000 large cities and small rural areas throughout the country. Consumers can receive information by calling Yatra's call center, by visiting the Website, or by using their mobile handsets.
Yatra's multi-language customer service center will enable business and family/leisure travelers to make bookings 24 hours a day, 365 days a year. Yatra customers will benefit from first priority booking and customized travel packages, and deals for multiple large to small hotels, airlines, railways, buses and car rentals at the lowest prices, as a result of strategic relationships with leading travel suppliers. The company will also offer free travel-related news and travel advisory services to a wide range of people. The Yatra service will be operational in the first half of 2006.
Promod Haque, managing partner, NVP and board advisor, Yatra, said, "We are very excited about our investment in Yatra, and the market opportunity the company has targeted. Internet penetration in India is only in its infancy, and investing in companies with sound business models that leverage the Internet to reach today's consumers, is a growing trend for our firm."
A spokesperson for Reliance Capital said, "We are delighted to partner with NVP, to back Yatra's strong management team in fulfilling every Indian's dream of easy, affordable travel by improving the entire Indian travel experience."
Haresh Chawla, CEO, TV18, and board member, Yatra, said, "TV18 Group is in the business of providing critical, real-time information to over 70 million people each day in India, in addition to a large Internet franchise that we serve through our leading financial and news portals. What we have done for delivering the latest news and information to Indian consumers, is the same paradigm shift we believe Yatra will bring to today's business and vacation travelers."
Vab Goel, partner, NVP and board member, Yatra, said, "For the first time, by simply a click of their phone or computer, people will be able to book tickets at all hours of the day or night, without having to make multiple calls or drive across the city to find the best deals."
Dhruv Shringi, co-founder and board member, Yatra, said, "With our nation-wide reach to consumers across India, we will bring more bookings to hotels and airlines. Even the smallest hotel in the smallest town in India will benefit from more visibility than they have ever experienced before. Yatra is committed to selling and filling seats on flights and hotel rooms that are currently under-utilized."
The founders of Yatra, Dhruv Shringi and Manish Amin, are non-resident Indians who have returned to launch the first online and centralized travel services company of its kind.
The country is currently witnessing a tremendous boom in both business and family/leisure travel. In 2006, the travel market is estimated to reach approximately $40 billion, and plans to hit close to $50 billion by 2009. Though the travel market is flourishing, the needs of travelers here are under-served due to the extremely fragmented travel industry.
To meet this rapidly growing need, Yatra has been launched. Yatra will provide travel-related information, pricing, availability and reservations for airlines, railway, buses, hotels and car rentals across 5000 large cities and small rural areas throughout the country. Consumers can receive information by calling Yatra's call center, by visiting the Website, or by using their mobile handsets.
Yatra's multi-language customer service center will enable business and family/leisure travelers to make bookings 24 hours a day, 365 days a year. Yatra customers will benefit from first priority booking and customized travel packages, and deals for multiple large to small hotels, airlines, railways, buses and car rentals at the lowest prices, as a result of strategic relationships with leading travel suppliers. The company will also offer free travel-related news and travel advisory services to a wide range of people. The Yatra service will be operational in the first half of 2006.
Promod Haque, managing partner, NVP and board advisor, Yatra, said, "We are very excited about our investment in Yatra, and the market opportunity the company has targeted. Internet penetration in India is only in its infancy, and investing in companies with sound business models that leverage the Internet to reach today's consumers, is a growing trend for our firm."
A spokesperson for Reliance Capital said, "We are delighted to partner with NVP, to back Yatra's strong management team in fulfilling every Indian's dream of easy, affordable travel by improving the entire Indian travel experience."
Haresh Chawla, CEO, TV18, and board member, Yatra, said, "TV18 Group is in the business of providing critical, real-time information to over 70 million people each day in India, in addition to a large Internet franchise that we serve through our leading financial and news portals. What we have done for delivering the latest news and information to Indian consumers, is the same paradigm shift we believe Yatra will bring to today's business and vacation travelers."
Vab Goel, partner, NVP and board member, Yatra, said, "For the first time, by simply a click of their phone or computer, people will be able to book tickets at all hours of the day or night, without having to make multiple calls or drive across the city to find the best deals."
Dhruv Shringi, co-founder and board member, Yatra, said, "With our nation-wide reach to consumers across India, we will bring more bookings to hotels and airlines. Even the smallest hotel in the smallest town in India will benefit from more visibility than they have ever experienced before. Yatra is committed to selling and filling seats on flights and hotel rooms that are currently under-utilized."
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